ProSep Inc.
TSX : PRP

ProSep Inc.

August 30, 2011 08:00 ET

ProSep Announces Field Testing of Proprietary Technology in Saudi Arabia

MONTREAL, QUEBEC--(Marketwire - Aug. 30, 2011) - ProSep Inc. (TSX:PRP)("ProSep" or the "Company"), dedicated to providing process solutions to the oil and gas industry, today announced its proprietary injection and mixing technology will be tested at two oil gathering and treating facilities located in the Kingdom of Saudi Arabia. The objective of this new field test is to further demonstrate process improvements and significant savings in chemical consumption typically required for oil treatment and separation.

"Our new team of process engineers based in Norway is leading this initiative. Supported by our additional business development professionals and local partner, this project will accelerate commercialization of our promising proprietary technologies in the region, said Jacques L. Drouin, President & CEO. We are confident that results from this new field trial will demonstrate significant savings and increased production efficiency."

ProSep's Mixers will replace existing chemical injection spools at two test locations and concurrently inject demulsifier, scale inhibitor and corrosion inhibitor chemicals. Performance data will be collected during a period of a maximum of twelve months starting in the second quarter of 2012. The value of this contract has not been disclosed for competitive reasons.

ProSep's patented C100 Injection Mixer design creates a homogenous droplet distribution and optimal droplet size, maximizing surface contact between the injected chemicals and the oil or gas flow. The technology allows producers to significantly reduce chemical consumption in the treatment process and improve downstream separation while reducing operating expenses.

About ProSep

ProSep is a technology-focused process solutions provider to the upstream oil and gas industry. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. For more information, please visit www.prosep.com.

Caution concerning forward-looking statements

This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of ProSep Inc. These statements are based, among others, on the Company's current assumptions, expectations, estimates, objectives, plans and intentions regarding projected revenues and expenses, the economic and industry environments in which the Company operates or which could affect its activities, the Company's ability to attract new clients and consumers as well as its operating costs, raw materials and energy supplies which are subject to a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the conditional tense, the words "may", "should", "would", "believe", "plan", "expect", "intend", "anticipate", "estimate", "foresee", "objective" or "continue" or the negative of these terms or variations of them or words and expressions of similar nature. Actual results could differ materially from the conclusion, forecast or projection stated in such forward-looking information. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include but are not limited to the Company's ability to develop, manufacture, and successfully commercialize value added equipments and services, the availability of funds and resources to continue its operations and pursue its projects, legislative or regulatory developments, competition, technological change, changes in government and economic policy, inflation and general economic conditions in geographic areas where ProSep Inc. operates. These and other factors should be considered carefully and undue reliance should not be placed on the forward-looking statements.

Contact Information

  • ProSep Inc.
    Investor Relations and Media:
    Danielle Ste-Marie
    VP Marketing and Communications
    (514) 522-5550 ext. 238
    dste-marie@prosep.com